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Mastering Project Management Fundamentals Critical for Successful Earned Value Management

CAS theory informs us of non-material fields that exert real force on material objects in the universe. For example, Gravity – a field familiar to us – is a force of attraction exerted by a celestial body, such as the earth, upon objects near or upon its surface that draws them closer to its center. These fields are thus understood to be forces with both magnitude and direction that permeate and influence the space and objects around them. As articulated by Margaret Wheatley [1], when a project vision is translated into a statement of the greater purpose and dreams of. | ORACLE I PRIMAVERA An Oracle White Paper September 2009 Mastering Project Management Fundamentals Critical for Successful Earned Value Management ORACLE Oracle White Paper Mastering Project Management Fundamentals Critical for Successful Earned Value Management Executive Overview Earned value management EVM is a program management technique that integrates cost schedule and technical performance to improve overall project management performance while reducing risk. This white paper explores the state of project management and the challenges in adopting EVM today. It then discusses how aerospace and defense organizations can leverage the EVM framework and fundamentals to establish project management best practices and further continuing maturity. Introduction Earned value is an essential element in predicting successful delivery but to derive information that is the most valuable and realistic an organization must employ standard and consistent project management practices that deliver that information with a high level of certainty. Without the fundamentals of project definition scheduling and management firmly in place the primary benefit organizations will see from EVM is in predicting cost and time to delivery rather than an improvement in how effectively they deliver projects. Before tackling the intricacies of EVM organizations must focus on key project management practices and build a strong foundation for planning execution and delivery. By adopting 10 fundamental EVM lite practices organizations will be better prepared to take on the challenges of EVM. 1 Oracle White Paper Mastering Project Management Fundamentals Critical for Successful Earned Value Management The State of Earned Value Management and Project Management Today Although EVM is a requirement for aerospace and defense organizations adoption remains a challenge. Organizations are finding that without reliable and clearly defined project management practices in place EVM is difficult and too .